We have got the lowest revenue as a share of the economy in 60 years, the highest spending as a share of GDP in 60 years.

I don't see the pivot.

I wish we had been more successful in persuading our colleagues to have a bigger package.

I can't speak for Senator Gregg, but he and I have gone on this effort to have a commission, because we have been convinced you have got to have an overall plan for the longer term.

Spending has got to be adjusted, and yes, that means Social Security and Medicare have to get on a lower growth trend.

I have just gone through an exercise to get the deficit down to 3 percent of GDP by the fifth year of the budget period and to balance by the end of a 10-year budget window.

We have got to--our first obligation is to defend this Nation, and we have got to provide the resources to do that.

There is going to have to be serious money spent there so that the energy needs of the country can be met efficiently.

It would be a profound mistake not to have a plan to deal with this longer-term debt challenge.

These things contribute to the economic strength of the country or the depletion of our strength.

I hope there will be an opportunity for the Congress to reconsider its rejection of the Conrad-Gregg proposal.